Global Ferric Chloride Market - Segmented by Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global ferric chloride market is estimated to witness a CAGR of 4.82% during the forecast period, 2018-2023. Asia-Pacific is expected to account for the major share of the market with the growing stringent regulations in the water treatment industry in the region. By application, water treatment will continue to be the largest end-user of ferric chloride.
Increasing Stringent Regulations for Treatment of Sewage Water and Industrial Waste
The growing stringent regulations from the governments to reduce water pollution or stress is driving the market for ferric chloride. EPA (Environmental Protection Agency) enforces federal clean water and safe drinking water laws and takes part in pollution prevention of water bodies. The wastewater treatment helps in maintaining the healthy ecosystem by removing harmful materials from the effluent before it enters the receiving body. Several developing economies are developing wastewater infrastructure due to declining freshwater resources.
Water Treatment to be the Major Consumer among Other Applications
Ferric chloride is used to remove phosphorus from the wastewater. It is used in treating both waste and drinking water, though the application technology used for both is different. It precipitates out the phosphorus into non-soluble forms that becomes non-usable by plants and microorganisms. Among other applications, water treatment application is expected to be the major consumer in the ferric chloride market.
Asia-Pacific to Lead among Other Regions
Asia-Pacific accounted for the largest market size in terms of consumption, followed by Europe and North America respectively for ferric chloride. With increasing industrial activities in Asia-Pacific region, the demand for ferric chloride is also expected to grow. Also, with the increasing population and high urbanization rates in the region, the usage of ferric chloride in water treatment is likely to grow significantly.
Major Key Players Kemira, Tessenderlo, PVS Chemicals, Chemifloc, BorsodChem, amongst others.
Reasons to Purchase this Report
To understand the impact of increasing stringent regulations on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating technology in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares and strategies employed by the major market players.
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